Page 4 - Sbi

Govt reappoints Ashwini Tewari as SBI managing director till December 2027

Earlier this week, the government appointed Ravi Ranjan as managing director with effect from December 15, 2025, till September 30, 2028

Payments to be most-used service on YONO 2.0, says SBI chairman C S Setty

According to SBI, with the new YONO app and internet banking now operating on a unified backend architecture and sharing the same user interface, customers will experience seamless omnichannel

SBI aims to double YONO app users, plans significant investment: Chairman

State Bank of India Chairman C S Setty has said that the bank is targeting to double its YONO app user base to 20 crore over the next two years with the launch of a new version on Monday. YONO 2.0 is a significant upgrade, offering a better experience for customers and a robust digital platform for the bank, and full fledged features will be rolled out over 6-8 months, he told PTI in an interview. "From a bank perspective, YONO 2.0 is a key anchor of digitalization, with a common code for internet banking and mobile banking. This allows for seamless integration across channels, enabling SBI to launch new products and processes quickly. The bank aims to leverage YONO 2.0 to enhance its digital presence and customer engagement," he said. For example, he said, YONO 2.0 developed a common core for customer journeys, which will ensure a seamless experience across internet banking, mobile banking, and branch channels for account opening or any other transaction. "Today, we have almost 10

SBI cuts peak deposit rate by 15 bps; cuts MCLR by 5 bps across tenors

SBI's Amrit Vrishti, which offered 6.6 per cent for 444 days, has been revised downward to 6.45 per cent

SBI raises data centre exposure target to Rs 4,000 crore for FY26

SBI plans to lift data centre exposure to Rs 4,000 crore by March 2026 from Rs 2,800 crore in October 2025, while setting up specialist teams and reviewing margins amid NIM contraction

SBI MD flags concerns on Account Aggregator's single consent mechanism

SBI managing director Ashwini Kumar Tewari on Wednesday expressed concerns over Account Aggregator's mechanism of obtaining a single consent from customers for all financial services products. Speaking at an event here, Tiwari argued that most customers do not read the fine print and often sign up without understanding the details. An Account Aggregator (AA) is a Reserve Bank of India (RBI) regulated entity that acts as a consent-based data intermediary. The Account Aggregator framework was introduced by the Reserve Bank of India (RBI) to enable the easy sharing of data between financial institutions for quicker decision-making. There are as many as 225 million users on AA at present. A single consent from the customer is used across all financial services products, including giving loans, signing up for wealth management or account openings, Tewari said at an event here. Customer consent is obtained only once; customers do not read the fine print before authorising and end up sig

RBI cuts repo rate; SBI, HDFC, ICICI to remain ‘too big to fail’ banks, & more

The RBI’s six-member MPC cut the repo rate by 25 bps to 5.25% and kept the policy stance neutral.

Nearing expiry: SBI seeks tax break extension for its GIFT City unit

SBI has asked the Centre to extend its 10-year tax holiday at GIFT City, saying early entrants lost effective benefit years. Experts warn activity could shift offshore if incentives lapse

Centre appoints LIC CFO Ramakrishnan Chander as managing director

The Centre has appointed LIC's executive director and chief financial officer Ramakrishnan Chander as managing director from December 1, with his tenure running till September 2027

Consensus seems to be pause by RBI's MPC, says SBI chairman C S Setty

C S Setty says effective liability management will help the bank to protect its margin above 3%

Nomura sees re-rating potential in Indian Banks; Axis, ICICI, SBI top picks

The brokerage argued that the profitability downcycle, marked by several quarters of net interest margin (NIM) compression and elevated credit costs, is now behind the sector.

Corporate loan growth to hit double digit, ₹7 trn credit in pipeline: SBI

With the pick-up in economic activity, State Bank of India (SBI) is seeing a clear revival in corporate credit demand and expects the segment to hit double-digit growth over the remaining two quarters of the current financial year, the bank's Chairman C S Setty said. As far as the pipeline for corporate credit is concerned, he said, "The bank has a strong pipeline. We have about Rs 7 lakh crore loan sanctions, a mix of unutilised working capital limits and term loans that are currently under disbursement." Besides, includes several project loans that are presently under discussion, he told PTI in an interview. So, the corporate credit, which was lagging for quite some time, witnessed a turnaround with 7.1 per cent growth in Q2, he said, adding, "Our guidance on the corporate credit would be the lower double digit in the two quarters with the available pipeline". Improving economic activity is also pushing up working capital utilisation, which is becoming stronger with each passing

Lower credit costs may drive more gains for SBI Cards and Payment Services

SBI Cards is expected to benefit from easing credit costs and improving asset quality, with rising spends and better portfolio performance likely to support stronger growth ahead

SBI may not need equity for 6 yrs, to raise ₹12,500 cr via bonds: Setty

SBI Chairman C S Setty has said that Rs 25,000 crore equity capital raised through the qualified institutional placement route earlier this year would support Rs 12 lakh crore credit growth and maintain a capital adequacy ratio of 15 per cent over 5-6 years. On the debt capital side, he said, the bank would mobilise Rs 12,500 crore through bonds as part of a periodic exercise. "Even before this QIP was raised, our ability to fund credit growth has never been a problem. We wanted to strengthen the capital ratios, so we have done that. Our long-term strategy is to maintain CRAR at 15 per cent and Common Equity Tier 1 at 12 per cent," he told PTI in an interview. This kind of Capital to Risk Asset Ratio (CRAR) gives the bank the ability to fund advances over Rs 12 trillion, he said. "With a profit rate what we have today, if the same profitability is maintained for another 5-6 years, we may not require any capital raising, at least on the CET 1 part," he said. SBI in July this year .

SBI confident of 3% NIM even if RBI cuts rate next week: Chairman Setty

State Bank of India is confident of achieving its 3 per cent net interest margin guidance even if the Reserve Bank decides to cut the repo rate by 0.25 per cent in next week's monetary policy review, Chairman C S Setty said. In an interview with PTI, the SBI chairman said that the RBI decision next Friday will be a "close call" and added that the house view at SBI is pointing towards a shallow cut of 0.25 per cent. "...if December rate cut is there, but our house view again is that it would be a shallow rate cut of 0.25 per cent, so it may not have any significant impact on the margins," he said. Earlier this month, before the release of official data pointing to inflation cooling to the lowest ever rate of 0.29 per cent in October, SBI had opined that RBI will opt for a pause in December and cut the interest rate in February. Earlier this week, RBI Governor Sanjay Malhotra said that there is a space for a rate cut and it was mentioned in the last bimonthly policy in October. The

New labour codes to increase formalisation 15%, says SBI report

SBI expects India's four new labour codes to boost formalisation 15%, extend social security to 85%, and create 7.7M jobs, though costs and state rules may affect results

SBI Ventures to launch ₹2,000 crore fund for climate-tech investments

Speaking at the second edition of the IVCA Green Returns Summit on Monday, Prem Prabhakar, managing director and chief executive officer of SBI Ventures

Banks at 'inflection point': IIFL sees earnings rebound, bets on Axis, HDFC

IIFL Capital forecasts flattish earnings for banks in FY26, but expects a strong rebound in FY27-28, with earnings CAGR of 21 per cent for private banks and 14 per cent for PSUs

ED attaches nine UAE luxury properties in ₹1,266 cr SBI fraud case

The attached properties are in the form of apartments and commercial spaces, worth Rs 51.70 crore. These properties were attached on November 17

Groww jumps 18% to ₹175 as mcap tops ₹1 trillion; SBI crosses ₹9 trillion

The market capitalisation of State Bank of India on Monday crossed the Rs 9-trillion mark in intra-day trade